This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Goldcorp's Peñasquito Mine Continues To Work Towards A Negotiated Land Claim Settlement With Cerro Gordo Ejidos

TSX: G      NYSE: GG

VANCOUVER, June 20, 2013 /PRNewswire/ - GOLDCORP INC. (TSX: G, NYSE: GG) — today announced the filing of a claim in the First District Court in Zacatecas by Minera Peñasquito that resulted in the temporary suspension of an agrarian court ruling. The hearing for a permanent suspension will be held on June 27, 2013.  The agrarian court ruling relates to a claim by the Cerro Gordo Ejido that challenged surface land rights to 600 hectares (approximately 1,483 acres) of land located in Mazapil, Mexico and within the confines of the Peñasquito mine site.  The ruling purports to nullify Goldcorp's lease of the surface land and orders the land returned to the Cerro Gordo Ejido for payment of 2.4 million pesos

Minera Peñasquito negotiated an agreement for use of the land prior to the construction of the mine that it believes is fair based on surface valuations in Mexico and similar agreements at Peñasquito and other mining operations, but is willing and continues to seek constructive dialogue with the Cerro Gordo Ejido with the intent of pursuing a mutually beneficial settlement.  At the same time, the Company will use all legal means at its disposal to ensure continuity of operations and to protect the Company's mineral concession rights consistent with Mexican law.  Mine operations have not been impacted.

Peñasquito is the largest gold producer in Mexico and employs approximately 3,000 employees of which approximately 85% are from local communities.  The mine generates over 6,000 direct and indirect jobs for Mexican families.

Goldcorp is one of the world's fastest growing senior gold producers.  Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs